The present disclosure relates generally to systems and methods for determining brand preference, and more particularly to systems and methods for determining brand preference of consumers over a network.
Consumer preference for a brand of a product is a representation of the percentage of consumers of the product who prefer the brand of interest over brands of the same product as depicted in sales, market share, or stock price. Due to other factors such as pricing, availability, and marketing activities, brand preference may not correspond directly to market sales and market share. That is, while consumer preference of a brand may be high, market share for the brand may be lower or otherwise non-corresponding to the brand preference value because, for example, the brand may be easily available only in selected locations. However, changes in consumer brand preference may correspond with changes in brand sales, market share and market value. As such, knowledge of consumer preference for a particular brand and the underlying factors creating such consumer preference may be useful in determining, analyzing, and improving the effect of advertisement plans, marketing strategies, and the overall health of the brand as depicted in sales and/or market share.